Both EU and GU did a good spike on friday, after horrible economic numbers from the US. Bidenomics is finally working in full swing, so this won’t change anytime soon. But what might give euro bulls a hard time are the tensions between Israel and Iran, so I expect EU to drop early in the week and then we will see where it stops and gains some power for another bull move, if that even happens. I will be watching the 850-860 area on EU and if it breaks, then possibly the 820 area…if even that breaks, then bulls are probably done for the week and shorting the spikes will be a better option during the week, as there are no major economic news until the end of it. First important economic news we are getting will be in 10 days, on august 13-14th, where US inflation numbers are posted, which will be again a big mover. In which direction is yet to see. A lot can happen until then.
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